Dallas Retirement Planning

Retirement planning is something most of us agree is important, but few of us actually enjoy thinking about it. A Transamerica survey of more than 4,000 US workers found that more than half of them are just guessing at how much money they’ll need after retirement, and most say they should know more about retirement planning. That’s where professional retirement planners come in. There are many in Dallas and the Metroplex, and they do more than remind you to save money.

Key retirement planning topics

The Certified Financial Planner Board of Standards recommends that clients consider multiple post-retirement issues: estate planning, long-term care planning, health care needs, and post-retirement income.

Income issues can be complicated, but it’s definitely worth the time and effort to understand them. That’s because proper planning can minimize your tax burden and maximize the benefits you receive. For example, people born between 1943 and 1954 can get full Social Security retirement benefits at age 66. But if they wait to take Social Security benefits, they’ll receive more each month later on. (They’ll get 108% of the monthly benefit if they wait until they turn 67; 132% if they wait until they turn 70.)

When you need to withdraw funds from your savings and retirement accounts, tapping those funds in a certain order may reduce the amount you pay in taxes. A good retirement planner can look over your accounts and investments and come up with a plan to help you hang onto more of your nest egg.

Retirement planners can also help you figure out whether you ought to delay your retirement or continue to work part-time after retirement. More than 20% of Texans now keep working past age 65, up from 13% in 1990, so if you want or need to keep working, you’ve got company.

Finding a retirement planner in Dallas

You’ll find plenty of Certified Financial Planners (CFPs) in Dallas, and you’ll want one who specializes in retirement planning. Referrals from friends and co-workers can be helpful. There are also several search tools you can use to find professionals near you.

Each year, D Magazine puts together a searchable list of outstanding CFPS in the Metroplex, as chosen by their fellow professionals.

The CFP Board of Standards database allows you to search by zip code for CFPs near you. Use the “refine your search” menu to focus on retirement planners. You’ll see a list that includes each planner’s minimum investable asset requirement, describes how they are paid, and more.

The Dallas and Northeast Texas Better Business Bureau of Dallas and Northeast Texas lists a baker’s dozen of BBB-accredited retirement planners with ratings and reviews.

Other Dallas-area retirement resources

The Elder Financial Safety Center of Dallas helps adults over 50 to find reputable financial advice and avoid scams. You can also get information on:

Household budgeting

Debt reduction

Help with bills and home repairs

Federal benefits programs including Medicare

Finding a job

Help for victims of financial fraud

The Elder Financial Safety Center is a joint project of the Dallas County district attorney’s office, the county probate courts, and The Senior Source. Contact the center at (214) 525-6130 or (214) 823-5700.


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